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- 1 The interest of investors in cannabis stocks upsurged with the legalization of cannabis and related products in the commercial marketplace.
- 2 As per the legal framework, cannabis stocks are allowed in 37 states for medical purposes and can be consumed recreationally in 21 states.
The legalization of cannabis in Canada grasped the attention of investors toward the stocks. Cannabis stock came into the picture in 2018, after the legalization of the same in the marketplace. Also, the USA legalized cannabis in around 47 states with different purposes that boomed the interest of investors towards cannabis and products related to it. The market is growing rapidly with the upsurge in demand for the plant and emerging as one of the strong contributors to economic growth in the upcoming future. Below are some cannabis stocks to invest in in 2023 to achieve good profits.
Trulieve Cannabis Corporation (TCNNF)
TCNNF is a leading name in the area of medical and recreational cannabis providers. The stock is beneficial to invest in if an individual is ready to take a risk. TCNNF has around 186.02 Million shares and the current stock price is $4.10 with a market capitalization of $763.1 Million. The price is expected to hike up to $16.63 by the end of 2025. The stock is good to buy in 2023 due to its low stock and the price will increase in the near future.
Canopy Growth Corporation (CGC)
CGC company is a leading company in the cannabis market focusing on unchaining the power of cannabis to enhance lives. The firm also announced its expansion in recent years showing high growth and progress in the near future. CGC stocks are moderate to sell as the current stock price is $0.69 with a market cap of 361.6 Million. Also, the price is expected to reach $2.14 in 2025 and $27.99 in 2028 showing continuous growth.
Curaleaf Holdings Inc. (CURLF)
Another strong player in the cannabis industry is CURLF offering medical and recreational marijuana dispensary services in the American marketplace. The stock is strong for buying currently and has the potential to offer more profits in the near future. The company has around 722.24 Million shares outstanding and the current stock price is $3.0 with a market cap of $2,156.0 Million. Also, the stock price is expected to reach $10 by the end of 2023 as the company is gaining popularity in the cannabis industry.
Tilray (TLRY)
TLRY is an international brand engaged in the research, production, cultivation, distribution, and marketing of medical cannabis. The company is a market leader in the Canadian market with around 8.3% cannabis ( stock) market share. Currently, the company has around 681.06 Million shares outstanding and the current stock price is $1.97 and predicted to reach approximately $6.16 by the end of 2025. This makes it a strong stock to invest in 2023.
Cresco Labs (CRLBF)
Investors looking for long-term benefits can invest in CRLBF, the top cannabis brand in the industry. The company has not had a good initiative at the beginning of 2023 that somehow impacted the current positioning of the stock. CRLBF has around 301,230,986 shares outstanding currently with a stock price of $1.66 with an expectation to touch $9.69 in 2025.
Conclusion
The cannabis industry is expected to achieve new heights in the near future after the legalization of cannabis. Investors looking for good returns can invest in stocks mentioned above and gain good profits out of them.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
